Bill Foster: “I believe that we need to give FSOC and the OFR the funding and personnel they need to carry out what I regard as their…”

I think we should consider adopting this in the coming session of Congress, at least on a temporary basis.

While the Presidency is often the focus of political pronouncements about macroeconomic conditions, there is no question that it undersells the importance and the independence of the work of the Federal Reserve Board.

If you conclude, as you are actively studying it, that you need more visibility into certain areas of, particularly nonbank things that may be parts of the chain of contagion, please let us know, because it is our job to avoid the next…

The good news is that macroeconomic policy is working as designed.